Trending: Foxconn Seeks Solution to Negotiation With Lordstown Motors
28 Junio 2023 - 2:34AM
Noticias Dow Jones
0704 GMT - Foxconn Technology Group is one of the most mentioned
companies in the news over the past 12 hours, according to Factiva
data, after Lordstown Motors Corp. filed for bankruptcy,
attributing its financial problems to the Taiwan-based company.
Lordstown said Tuesday it was filing for Chapter 11 bankruptcy and
that it would sue Foxconn for fraud and breach of contract. A deal
for Foxconn to purchase $170 million in shares of the
electric-vehicle start-up fell through, Lordstown said, alleging
that the contract manufacturer's actions "had the intended effect
of destroying the business of an American startup." Foxconn said on
its website Wednesday that it "has been holding a positive attitude
in conducting constructive negotiations and...finding a solution to
its financial difficulties," characterizing Lordstown's comments as
false and "malicious." Dow Jones & Co. owns Factiva.
(jacques.vanwersch@dowjones.com)
(END) Dow Jones Newswires
June 28, 2023 03:19 ET (07:19 GMT)
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